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Launched

Horizon Digital Frontier ETF

YNOTNasdaqHorizon FundsD

$29.32−0.57 (−1.89%)

At close: Nov 2, 2026, 4:00 PM ET

D39/ 100

Rank 23 of 30 in Disruptive Innovation

D39/100Rank 23 of 30inDisruptive Innovation
Intraday session: down, 79 prints from 29.89 to 29.32. Range 29.32 to 30.33. Use the arrow keys to read each point.29.6030.2010 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$199M
1Y total return
−0.4%
Yield · Last 12 months
No data
Holdings
107
Avg volume · 30D
48.5K sh
52W range
low $25.19high $35.02
Launched

The ETF.net YNOT Grade

Based on 5 of 6 pillars

D

Score 39 out of 100

Category
Disruptive Innovation⁠
Rank
23 of 30
Six-pillar profile for YNOT. Scores out of 100: Cost 22, Risk 50, Mission not scored, Tradability 54, Holdings 49, Durability 37. Strongest: Tradability (54). Weakest: Cost (22). Based on 5 of 6 pillars.

Score 39 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F22 out of 100
    Rank 20 of 30

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C50 out of 100
    Rank 18 of 30

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C54 out of 100
    Rank 14 of 30

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C49 out of 100
    Rank 18 of 30

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D37 out of 100
    Rank 22 of 30

Our read on YNOT

ETF.net Research

In short

DMost innovation funds just buy the obvious winners. YNOT sorts emerging-tech companies into four phases, from the chipmakers enabling a technology to the businesses that eventually use it, and actively shifts money along that chain.

Stated mandate

The fund seeks long-term capital appreciation by investing primarily in equity securities of companies operating in digital and technology sectors, emphasizing firms involved in digital innovation and transformation.

Why people hold it

  • The phase map is the whole idea: enablers, the infrastructure layer, the companies monetizing products, and the firms using the tech to cut costs. Managers decide where along that chain to lean.dividend.comhorizoninvestments.com
  • Actively managed and global by design: US and non-US stocks, ADRs, even other ETFs are in bounds, so the portfolio isn't bolted to one index committee's definition of innovation.yahoo.com
  • Roughly 100 names, screened on growth, value, momentum, quality, size and volatility. A multi-factor filter sits on top of the theme rather than pure story-stock picking.dividend.com

Worth knowing

  • The active framework carries an active price: 0.75% a year, above the middle of its thematic peer group, where several of the best-regarded options charge less (KOMP 0.20%, XT 0.46%).
  • Non-diversified by charter, so a small group of holdings can steer results. It's also a small, thinly traded fund, which tends to mean wider spreads than the category's household names.yahoo.com
  • The record starts in July 2025, so there's little history to judge the phase model through a full cycle. The mandate is capital appreciation, not income.

YNOT Performance

Launched Jul 9, 2025

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.
YNOT$9,963
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. YNOT $9,963. SPY $11,199. Use the arrow keys to read each point.$9,000$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for YNOT. Periods over one year show the average yearly return.
PeriodYNOT
Year to date+6.0%
1 month−10.7%
3 months−3.7%
1 year−0.4%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for YNOT
YearReturn barYNOT
2026 YTD+6.0%
2025+11.8%

History from Jul 10, 2025

YNOT in the news

YNOT Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

YNOT Risk

Risk pillarC50 out of 100Rank 18 of 30 in Disruptive Innovation
How much the fund’s monthly returns vary, scaled to a year.
25.5%
Annualised · 15 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.36
vs 3-month T-bills · 15 months to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−17.2%
15 months · trough Jul 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.75
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

YNOT Cost

Compare YNOT and KOMP

Overpaying vs KOMP, cheapest in Disruptive Innovation

$10,327

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • YNOT 0.75%

    $14,482

  • KOMP 0.20% Cheapest

    $4,155

$10,000
30 years

Cost over time

  • YNOT 0.75%
  • KOMP 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530YNOT $14,482KOMP $4,155

Year by year

YearYNOTKOMPOverpaying
10$1,336$365$971
20$5,078$1,421$3,657
30$14,482$4,155$10,327

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